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What safety measure I need to take before choosing any forex broker?

Gareylinn509
Dec 11 2020 at 12:21
34 posts
Never had the nerve to trade after hours. Do all brokers allow it, I don’t think mine does.

Raywilkins665
Dec 14 2020 at 10:41
24 posts
Look for regulation, trading conditions and other services that you would want to make use of. Also, the broker should be reputed and trustworthy. You can check reviews online as well.

Jakemark
Dec 21 2020 at 09:57
37 posts
Try using regulated brokers that are good with their services. Make sure you make all the inquiries and see if the trading conditions are upto the mark. Don’t settle for less than what you need as a trader.

Josuvaphilip
Dec 21 2020 at 12:14
27 posts
Jakemark posted:
Try using regulated brokers that are good with their services. Make sure you make all the inquiries and see if the trading conditions are upto the mark. Don’t settle for less than what you need as a trader.

I agree. I'm currently using Fxview and the trading conditions are acceptable. The spreads are low and the commissions are also reasonable.

Bladiminmunro
Dec 22 2020 at 04:21
59 posts
Gingerrogers posted:
Regulations are just a mirage, a ploy for brokers to dupe traders into making them believe they are legit. Beware!

I agree. A lot of traders use offshore brokers too and that works fine for them so there isn’t a big deal about this.

IvanMelnik
Dec 22 2020 at 07:16
34 posts
1 Regulation
2 Trading conditions
3 Online reviews
I look for all these things while choosing a broker.

Mikehussey
Dec 23 2020 at 06:26
58 posts
IvanMelnik posted:
1 Regulation
2 Trading conditions
3 Online reviews
I look for all these things while choosing a broker.

Agreed. Here are things I look for when selecting a broker:
Check if the broker is regulated
Get all the account details and check the leverage and margin
Pay close attention to commissions and spreads
Review the initial deposit amount
Check if withdrawals and payments are timely or fast
Trading platforms available
Customer support
Number and types of currency pairs offered

philipsimmions
Dec 23 2020 at 10:13
42 posts
I just check if the spreads are tight and the platforms run smoothly. I just use MT4 so this is pretty much the only criteria I look for. Can check reputable brokers like Etoro or IG.

Adamgylicrist
Dec 23 2020 at 12:41
38 posts
Pointingmark posted:
Different funding and withdrawal methods should also be taken into consideration. For instance not all brokers accept crypto, or credit cards.

Yeah this seems to be a problem with many brokers. They don’t accept crypto and that’s a bummer really. If anyone happens to know one that does, please share. Thanks.

Harshalgibbs
Dec 24 2020 at 04:22
54 posts
Adamgylicrist posted:
Pointingmark posted:
Different funding and withdrawal methods should also be taken into consideration. For instance not all brokers accept crypto, or credit cards.

Yeah this seems to be a problem with many brokers. They don’t accept crypto and that’s a bummer really. If anyone happens to know one that does, please share. Thanks.

For different payments options I go with Fxview and CMC. The payment options are varied with them. Check them out.

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